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Transcript of Euan Menzies CFO - · PDF fileOverheads and errors due to manual processes ... •Actix....
Euan MenziesCFO
September 2017
© 2017 Ixaris Technologies Ltd 2
Payments is fast growing sector increasing under threat of disruption
Source: Global Payments 2015: A Healthy Industry Confronts Disruption. McKinsey 2015 Source: A brave new world for global banking. McKinsey 2017
© 2017 Ixaris Technologies Ltd 3
The opportunity is driven by widespread inefficiencies in payments
The inefficiencies vary by Payments use case: purchasing, gifting, payroll, … Industry: travel, insurance, construction, …Geography: Western Europe, Eastern Europe, US, Africa, Middle East, … Customer size and type: consumer, SME, enterprise, …
Cost inefficiencies
High fees for cross-border transfers and forex spread
Working capital Inefficient use of credit lines
Control inefficiencies
External and internal fraud Oversight on use of funds Error and failure handling
Connectivity inefficiencies
Payments not integrated into devices and applications Overheads and errors due to manual processes Lack of automation of process such as reconciliation
© 2017 Ixaris Technologies Ltd 4
EntroPayOnline self-service pay anyone, anywhere, instantly proposition for consumers and SMEs
Ixaris TechnologiesB2B payment solutions for corporates and banks
We deliver more efficient solutions than the banks offer today
© 2017 Ixaris Technologies Ltd 5
Section 1: Introduction
EntroPay delivers outbound payments solutions to consumer and SMEs
B2C and SME self-service payments platform
Offer virtual Visa cards that can be used anywhere Visa is accepted online
Fully self-service to open account and use
Load funds from a variety of sources: bank accounts, credit and debit cards
Financials
2016 2015 2014
£m £m £m
Revenue 9.1 7.8 7.2
EBITDA 3.8 3.3 3.6
2017YTD flash
• Revenue - 78% growth YonY• EBITDA - 58% growth YonY
© 2016 Ixaris System Ltd 6
Fast, secure and easy to use means of making payment:
… offering best-in-class virtual card propositions
• For Small Businesses: cost-effective corporate solution to manage business expenses, eliminating traditional bureaucracy and banking costs
• For Consumers: safe and convenient way to instantly spend and receive money –anytime, anywhere
© 2016 Ixaris System Ltd 7
Section 4: Business Model
Mobile app to serve existing mobile user community
Grow EntroPay for Business by acting on feedback from early adopters and marketing programme
Improved B2B2C referrals to improve customer acquisition
Introduce new services such as P2P transfers to existing user base
Growth plan focuses on diversified and sustainable revenue streams
© 2016 Ixaris System Ltd 8
B2B payments technology platform, products and tools
Easy to create, deploy and run sophisticated payments services
Integrates many forms of payment: Visa, MasterCard, SWIFT, UATP, ACH, Faster Payments…
Section 1: Introduction
Ixaris Technologies delivers efficient B2B payment solutions for corporates
Financials
2016 2015 2014
£m £m £m
Revenue 4.0 3.0 2.2
EBITDA (5.3) (3.8) (4.3)
2017YTD flash
• Revenue - 100% growth YonY• EBITDA - 50% reduction in loss YonY
© 2016 Ixaris System Ltd 9
… addressing a variety of outbound B2B payments use-cases
Vertical Use-Cases
Travel trade payments
Insurance supplier paymentsOnline media buying
Horizontal Use-Cases
Accounts payable E-Commerce purchasing
Disbursements
© 2016 Ixaris System Ltd 10
Distributors CorporatesFinancial Institutions
Ixaris Technologies has customers across the B2B payments value chain
© 2016 Ixaris System Ltd 11
Financial InstitutionsProcessors Developers and SIs
… and partners to deliver best-in-class B2B payments
© 2016 Ixaris System Ltd 12
Section 4: Business Model
Further innovation in Travel Payments
Growth in other industry verticals such as insurance, online media and utilities
Supplier payments technology for commercial issuers
Digital transformation of commercial payments systems
Growth is driven by high-volume commercial payments markets
© 2017 Ixaris Technologies Ltd 13
Alex MifsudFounder and CEO
• Arthur D Little
• Virtual cards pioneer
• Computer Science PhD
Euan MenziesCFO
• eCommera• Insurecom• Actix
Dave JoyceCOO
• Visa SVP Business Operations
• Znap, SVP Operations
• PayThru, COO
Doug GrayCCO
• Barclaycard, Global Commercial payments
• ING• GE
Clive BramleyChief Legal and Risk Officer
• RBS• Worldpay• Cashflows
Paul DoyleCTO
• Vodafone• BEA Systems
… led by a team with proven payments and fast-growth experience
© 2017 Ixaris Technologies Ltd 14
being transformed by regulation,
technology and economics
Payments is a multi-$bn
industry
executing on a high-growth
strategic plan
An experienced multi-skilled
team
selling through
established channels
Strong traction across value
chainincreasingly
recognised as a leading innovator
in the market
Well-managedfast growing
business
Recurring revenue business
generating 80%+ annual revenue
growth
The Ixaris Group is well-positioned to deliver high returns to shareholders
© 2017 Ixaris Technologies Ltd 15
Section 1: Introduction
The financials position the Group for next stage of growth
2016 2015 2014
£m £m £m
Revenue 13.1 10.8 9.4
EBITDA (1.5) (0.5) (0.7)
Free cashflow 5.5 2.1 2.7
• 2017 Group revenue - 86% growth YonY
• Technology platforms are scaling strongly to deliver growth
• EBITDA positive each of last 9 months
• EBITDA growth is allowing continued investment in technology innovation and distribution channels
• Free cashflow continues to accumulate